People familiar with the inner secret corporate relationship between Alphabet Inc (the parent company of Google) and Lyft Inc say the two companies have a close working relationship. However, it might seem that relationship might be tighter or is about to get tighter with rumors of Alphabet possibly investing $1 billion into Lyft.
For Lyft Inc, a financial support injection from one of Silicon Valley’s biggest financial muscle could boost its battles against arch-rival Uber in the ride hailing business. As currently things stand, Lyft Inc comes second place to Uber Technologies Inc in the ride hailing market share.
Although it is not currently clear how large an investment Alphabet is putting into Lyft. Bloomberg cites people privy to the matter that the discussion says a $1 billion deal could be in the offering. Neither Alphabet nor Lyft has come out to deny or refute the figure or that they are in talks on a possible investment.
The two companies have already partnered in the past, through Alphabet self-driving car unit Waymo partnering with Lyft to develop self-dring car technology. There was not much communication from both companies …read more